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The Burger Industry Essay

1645 words - 7 pages

By the 1980s - the age of achieving speed and efficiency, summarized by Michael Douglas' claim that 'lunch is for wimps' in the film Wall Street - the burger a kind of cheap and convenient food had become one of the world's most popular has become snacks. Nowadays, burger industry is one of the global industries, which has a strong impact on the way people eat especially in the Europe and USA. The first UK food chain selling burgers was the White Castle chain, which began business in 1921. (What's in a burger, 27th January 1999) Today, McDonald's, Burger King and Wimpy are the main franchised restaurant chains, which selling burgers in the UK. Although, KFC also sells burgers, McDonald's and Burger King take the majority of sales in the burger market. In 1974, McDonald's opened its first restaurant in the UK. (http://www.mcdonalds.com/corp/about.html) Be hot on McDonalds' trail, Burger King opened its first restaurant at London UK in 1977. Although, both of them have success in the UK, the position of Burger King is not a patch on McDonald's. McDonald's (www.mcdonalds.com) is the largest and best-known global foodservice retailer with more than 30,000 restaurants in 119 countries. In addition, it's also one of the most well-known and valuable brands in the world and holds a leading share in the globally branded quick service restaurant segment of fast food market of all the countries, in which they do business (organization facts [issue]. McDonald's corporation, 2004.)Furthermore, Burger King (www.burgerking.com) is also a larger well-known global foodservice retailer with more than 11,300 restaurants across the US and in more than 55 other countries and has shares as well. However, it's much smaller and less brand value than McDonald's. What is more, Wimpy (www.wimpyburgers.co.uk) is the largest independently owned, franchised restaurant chain with over 265 restaurants in the UK and it's older than McDonald's and Burger King. The first Wimpy restaurant was seen on Britain's High Streets in 1954.*New entrantsThe burger industry is facing some serious challenges today. It is not easy for a new company to break into the burger industry. In the first place, the demand of UK burger market is flat and dominated by global brands, led by McDonald's and Burger King. According to Michael Porter (1980 n.p.), "When existing competitors have strong brand identification and customer loyalty, differentiation creates a barrier to entry by forcing entrants to spend heavily to overcome existing customer loyalties."In the second place, the competitions in fast food market are very furious. A lot of fast food burger chains facing slowdown. One way of viewing this is McDonald's announced its first-ever quarterly loss in March 2003. Although system-wide sales rose 2% to US$41.5 billion, worldwide same-store sales fell 2.1%, compared to a 1.3% decline in 2001. The burger giant reported US $810.2 million in charges for hundreds of store closings. (SEGMENT REPORT:...

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